Confessions of a watch flipper

Admitting you have "flipped" a grail watch to the watch-collecting community is a fast-track route to becoming a social pariah. But get found out by the maker of that watch and things get much, much worse.

Why? Because now, according to some reports, you will be consigned to a so-called "blacklist" that means they won’t sell you a watch again. So, is "flipping" worth it? Well, to some it is because by buying a grail watch – with a long waiting list – from an authorised dealer at normal retail price and then selling it on the "grey market" (for example via an unauthorised dealer as "pre-owned" but otherwise mint) means you can achieve, in some cases, 100 per cent profit... More here.

In any sector where secondhand goods are more expensive than when bought new you will have flippers. It is unavoidable and it does not make people trying to make a profit nasty, apart from when they stop genuine buyers getting hold of the product...